DES MOINES, Iowa, Mar 02, 2011 (BUSINESS WIRE) --
Principal Financial Group, Inc. (NYSE: PFG) announced today that its
Board of Directors has declared a cash dividend of $1.39075 per share on
its 5.563% Series A non-cumulative perpetual preferred stock and a cash
dividend of $0.407375 per share on its 6.518% Series B non-cumulative
perpetual preferred stock. The preferred dividends are payable on March
30, 2011, to preferred stockholders of record as of March 11, 2011.
Forward looking and cautionary statements
This press release
contains forward-looking statements, including, without limitation,
statements as to operating earnings, net income available to common
stockholders, net cash flows, realized and unrealized gains and losses,
capital and liquidity positions, sales and earnings trends, and
management's beliefs, expectations, goals and opinions. The company does
not undertake to update these statements, which are based on a number of
assumptions concerning future conditions that may ultimately prove to be
inaccurate. Future events and their effects on the company may not be
those anticipated, and actual results may differ materially from the
results anticipated in these forward-looking statements. The risks,
uncertainties and factors that could cause or contribute to such
material differences are discussed in the company's annual report on
Form 10-K for the year ended Dec. 31, 2010 filed by the company with the
Securities and Exchange Commission, as updated or supplemented from time
to time in subsequent filings. These risks and uncertainties include,
without limitation: adverse capital and credit market conditions that
may significantly affect the company's ability to meet liquidity needs,
access to capital and cost of capital; a continuation of difficult
conditions in the global capital markets and the general economy that
may materially adversely affect the company's business and results of
operations; the actions of the U.S. government, Federal Reserve and
other governmental and regulatory bodies for purposes of stabilizing the
financial markets might not achieve the intended effect; the risk from
acquiring new businesses, which could result in the impairment of
goodwill and/or intangible assets recognized at the time of acquisition;
impairment of other financial institutions that could adversely affect
the company; investment risks which may diminish the value of the
company's invested assets and the investment returns credited to
customers, which could reduce sales, revenues, assets under management
and net income; requirements to post collateral or make payments related
to declines in market value of specified assets may adversely affect
company liquidity and expose the company to counterparty credit risk;
changes in laws, regulations or accounting standards that may reduce
company profitability; fluctuations in foreign currency exchange rates
that could reduce company profitability; Principal Financial Group,
Inc.'s primary reliance, as a holding company, on dividends from its
subsidiaries to meet debt payment obligations and regulatory
restrictions on the ability of subsidiaries to pay such dividends;
competitive factors; volatility of financial markets; decrease in
ratings; interest rate changes; inability to attract and retain sales
representatives; international business risks; a pandemic, terrorist
attack or other catastrophic event; and default of the company's
re-insurers.
About the Principal Financial Group
The Principal Financial
Group(R) (The Principal (R))1 is a leader
in offering businesses, individuals and institutional clients a wide
range of financial products and services, including retirement and
investment services, life and health insurance, and banking through its
diverse family of financial services companies. A member of the Fortune
500, the Principal Financial Group has $318.8 billion in assets under
management2 and serves some 19.1 million customers worldwide
from offices in Asia, Australia, Europe, Latin America and the United
States. Principal Financial Group, Inc. is traded on the New York Stock
Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and "The Principal" are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of Dec. 31, 2010.
SOURCE: Principal Financial Group, Inc.
Principal Financial Group, Inc.
Media contact:
Susan Houser, 515-248-2268
houser.susan@principal.com
or
Investor Relations contact:
John Egan, 515-235-9500
egan.john@principal.com
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